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Elon Musk confirms that Tesla will build a gigafactory in Mexico, this is how it will look

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Elon Musk confirms that Tesla will build a gigafactory in Mexico
Elon Musk confirms that Tesla will build a gigafactory in Mexico
Khushbu Kumari

The plant, which will be built near the state capital of Nuevo León, is expected to have an investment of USD5 billion.

After days of speculation and even several debates in Mexico, Elon Musk confirmed that his electric car company Tesla will build a factory in Mexico .

Within the framework of Investor Day 2023, from Houston Texas, the American billionaire confirmed that the next plant of his Tesla company will be built in Nuevo León, Mexico, and referred to that announcement as the most important of the day.

“This is the most significant announcement we will make today. We are excited to announce that we are going to build a gigafactory in Mexico,” Musk said near the end of the day's presentations.

The tycoon added: “We are going to have a grand opening. We are excited to announce that the next gigafactory will be in Mexico, near Monterrey”.

In addition, during the presentation, an image of the sketch of the plant that will be built in northern Mexico was shown , although no more details were given as to when it will begin to be built and less as to when it will be finished.

The owner of the electric car company pointed out that they will continue to expand and that they will continue production in all their current plants in California, Nevada, Texas and Shanghai, so the installation of the factory in Mexico will be supplementary and the production of some installation from one to another.

Franked by his team of international experts, Musk confirmed that he will work hand in hand with lithium suppliers . Mexico owns a lithium mine in Sonora. In addition, he added that they will take advantage of the Free Trade Agreements that Mexico and its workforce have.

Possible investment of $5,000 million dollars

The amount of investment was not confirmed during the event, but the Mexican government had anticipated that it would be around $5 billion dollars for the construction of the gigafactory for next-generation electric vehicles.

The firm's arrival in Mexico was confirmed early Tuesday by President Andrés Manuel López Obrador , who said he had sealed the agreement with Musk during a telephone conversation on Monday.

“We brought to Mexico an investment of more or less $5,000 million dollars for the installation of the largest electric vehicle plant in the world,” Martha Delgado, vice chancellor for Multilateral Affairs and Human Rights, later explained.

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